(Bloomberg) -- Microsoft Corp. said its cloud-computing business will continue to grow slowly in the current quarter as the company struggles to build enough data centers to handle demand for its artificial intelligence products.Most Read from BloombergManhattan’s Morning Commute Time Drops With New Congestion TollTrump's Federal Funding Pause Threatens State Financials Housing Aid Uncertain After Trump’s Spending Freeze MemoUS Students’ Reading Scores Drop to Worst in More Than 20 YearsTexas HO
Microsoft (MSFT) shares fell by around 5% during after-hours trading on Wednesday after it reported Azure cloud computing growth toward the bottom range of expectations.
Tesla’s bottom line numbers were boosted by a $600 million one-time gain in “digital assets.” Excluding that, EPS would have been closer to 55 cents, about 20 cents below the Wall Street consensus. Future Fund Active ETF cofounder Gary Black suspected that was Bitcoin.
Chip-making equipment supplier Lam Research forecast third-quarter revenue above Wall Street expectations on Wednesday, driven by a surge in orders from chip firms amid the AI boom. Shares of the Fremont, California-based company rose about 5% in trading after the bell. The rapid growth in artificial intelligence will continue to fuel substantial investments in leading-edge nodes, advanced packaging ,including high-bandwidth memory (HBM) chips, which are critical for high-end applications like AI training.